Gold Steadies Ahead of Raft of Central Bank News

Gold Steadies Ahead of Raft of Central Bank News

U.S. Fed, Bank of England, Bank of Japan meet this week Trump to announce Fed chair, with Powell tipped for post Gold steadied on Monday as traders stayed on the sidelines before this week’s central bank meetings and policy news, including President Donald Trump’s expected announcement of the next Federal Reserve chair. The U.S. central bank kicks off a two-day policy meeting on Tuesday, while the Bank of Japan and Bank of England also meet…

Diwali, Festival of Lights

Diwali, Festival of Lights

India’s Diwali festival, which starts October 18, 2017, and lasts five days, is approaching. It is customary for people to buy gold at this time for the upcoming festival and wedding seasons, and populous India is one of the world’s largest consumers of gold. Gold is projected to regain ground at this time, recovering from September lows. According to NDTV, India’s gold imports: “… recorded a threefold jump to $15.24 billion during the April–August period…

Time To Go For The Gold?

Time To Go For The Gold?

Since the beginning of 2017, gold has traded on an upward trend, with a high correlation to the Trump stock market rally. You may be surprised that in the eight worst stock market corrections since the early 1970s, gold is not always a “safe haven”. This article assesses the relative attractiveness of gold as an investment today to preserve portfolio value should a market correction occur. Many investors I have spoken with recently share a…

Gold’s Fear Trade Intensifies on Debt and Equity Risk

Gold’s Fear Trade Intensifies on Debt and Equity Risk

“For centuries, investors and savers have depended on gold in times of economic and political strife, and its investment case right now is as compelling as it’s ever been.” As I write this, gold is trading above US$1,330 an ounce after a strong rally that took the metal to its highest levels since August 2016. Tensions over North Korea, a weakening US dollar, political uncertainty in Washington, an overvalued US stock market, surging public and…

Gold Trades at Highest in a Year

Gold Trades at Highest in a Year

Gold continued its march higher Friday after striking a one-year closing high in the previous session as the dollar and U.S. Treasury yields skidded lower. The yellow metal gained, and was on track for a roughly 1.7% weekly gain for the most-active futures contract, as continued strength in the euro pushed the buck toward its worst week in more than three months.

Gold Adds to 4% August Climb

Gold Adds to 4% August Climb

Gold climbed on Friday, adding to its roughly 4% surge for August, after a closely watched snapshot of the U.S. job market revealed tepid late-summer hiring and almost no paycheck growth. The report keeps alive the close debate over whether the Federal Reserve has a green light to raise interest rates again this year given still-concerning low inflation readings, including within wage data.

Gold Was Chemically Destined To Be Money All Along

Gold Was Chemically Destined To Be Money All Along

I think most of you reading this right now are aware that gold is unlike any other metal, certainly any other element. It doesn’t play by the same rules as iron or tin or aluminum, and its value has nothing to do with its utility — or lack thereof. People valued the yellow metal for its beauty and malleability eons before they knew of its usefulness in conducting electricity or its chemical inertness. That gold…

North Korea Threats Raise Gold Demand

North Korea Threats Raise Gold Demand

Mounting hostility between North Korea and President Trump has shaken the markets. This week, gold hit two month record highs, gaining $40 in just two days. This gold uptick began earlier this week when the UN Security Council imposed new sanctions on North Korea, with the intention of hurting their economy, thus limiting the funding of their nuclear programs. This tactic has not worked in the past, and this time around the situation escalated. At…